Internet of Things (IoT) Managed Services Market 2022 Growth Outlook - Wipro Ltd., Cognizant Technology Solutions Corp., Cisco Systems Inc., Tata Consultancy Services
The internet of things (IoT) managed services market was valued at USD 46.53 billion in 2020, and it is expected to reach a value of USD 158.75 billion by 2026 at a CAGR of 27.82%, during the forecast period (2021 - 2026).
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Top Leading Companies of Internet of Things (IoT) Managed Services Market are Wipro Ltd., Cognizant Technology Solutions Corp., Cisco Systems Inc., Tata Consultancy Services, Tech Mahindra Ltd., Tieto Corporation, Virtusa Corporation, Infosys Ltd., HCL Technologies Ltd., Aricent Inc. and others.
Industry News and Updates
February 2020 - Smartfren, one of Indonesia's leading telecom operators with more than 20 million active subscribers, announced Cisco as its preferred digitization partner to create a multi-cloud architecture. The project will entail the creation of a digital services data center architecture in Indonesia with cloud computing, and cloud services integrated.
- October 2019 - Integron announced the launch of managed services solution for mobile asset management. Integron will leverage its expertise in IoT managed services to assist connected health and life sciences companies in the turnkey deployment of scalable asset management tools.
Key Market Trends
Asia-Pacific is Expected to Witness the Highest Growth Rate
- As the Asia-Pacific region is developing, it holds major expansion potential, owing to the booming commercial sectors, like healthcare, safety and security, manufacturing, energy, and agriculture. This is enabling the IoT market to grow at a faster rate.
- Due to integration of blockchain and cryptographic processes across IoT security services, IoT offers centralized management of network and associated data, thereby reducing the business vulnerabilities and security concerns, as well as fueling the IoT in the engineering services market in this region.
- The countries, such as India, Japan, China, Australia, and South Korea, are the major contributors to the Asia-Pacific market, and the growing smart city implementation in this region is presenting the market with varied potential growth opportunities.
Regional Outlook of Internet of Things (IoT) Managed Services Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Internet of Things (IoT) Managed Services Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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